iKON reflected on the group's exit from YG Entertainment following the news that BIGBANG member and leader, G-Dragon, signed a new contract with another agency.
The originally seven-member group debuted in 2015 with the hit track "My Type," following their participation in the reality survival show "WIN: Who Is Next."
After a seven-year stint under YG Entertainment, iKON's remaining members decided to enter a long and careful discussion and chose to leave the company for good in December 2022. They officially found their new home, 143 Entertainment, the following month.
iKON Reflects on Leaving YG Entertainment
iKON appeared in an interview with Forbes and opened up about the members' decision to leave YG Entertainment.
Bobby called the agency a "great company," but they thought they needed to make a change to grow more in the industry.
"YG Entertainment is a very beautiful and great company. But like, they literally do everything for you, you know? All we had to do was, like, be on the stage and write music," he said. "So, we just wanted to learn more since we were young and that's why we chose this path."
The "S.i.R" rapper shared that they received a great opportunity and met a nice guy who invited them to join 143 Entertainment.
READ ALSO: iKON Junhoe Confirms Exciting Project Outside K-pop Music Industry -- Fans React!
G-Dragon Ends Contract With YG Entertainment
The interview surfaced after G-Dragon, the only BIGBANG member who remained in YG Entertainment, ended his exclusive contract with the agency after 17 years of promoting with them.
The announcement led the company's stock to dip to an all-time low of $130 million in market cap value.
VIPs, BIGBANG's fans, had long speculated that he would part ways from the company after YG Entertainment's business report for the first quarter of 2023 did not include him.
"The exclusive contract with G-Dragon has expired, and we are cooperating through a separate contract for other activities such as advertising," the company said when rumors emerged. "We will discuss additional contracts when we resume music activities, and YG will spare no support for this."
Meanwhile, G-Dragon uploaded photos that showed an electronic display, showing the text "Warner Records Welcomes G-Dragon." The Warner Music Group also added him on its portal site, and the "Crooked" hitmaker had also liked one of the company's posts.
READ MORE: BTS Jungkook Solo Debut Causes 3% Increase on HYBE Stock Price [DETAILS]
